Scope sheet
finbryn.com
Insurance accounting
MGA and program administrator accounting
Finbryn provides accounting support for MGAs and program administrators: it ties each bordereau to premium collected, cancellations and remittances, reconciles the fiduciary accounts and prepares the quarterly account report for the MGA's review before it goes to the carrier. Texas Insurance Code 4053.103 (checked 2026-10-19) sets that report at least once each calendar quarter.
What is included
- Bordereau tie-out to premium collected, cancellations and remittances, by program
- Fiduciary account reconciliations with aged open items
- Premium payable, commission and fee postings by program and carrier
- Quarterly account report drafted for the MGA's approval
- Schedules for a carrier's delegated-authority review and the MGA's independent CPA
The process
- 1.
Map programs, carriers and accounts
List each program, its carrier contract, its fiduciary account and the terms that govern commission, fees and remittance.
- 2.
Collect the month's files
Bordereaux, bank statements, carrier statements and producer premium reports, sent after cut-off.
- 3.
Tie the bordereau to cash
Gross to net premium due, then remitted plus held, with cancellations and endorsements explained.
- 4.
Reconcile the fiduciary accounts
Bank to ledger, and ledger to premium payable by insurer, with open items aged.
- 5.
Draft the quarterly account report
Premium, losses, incurred but not reported and management fees as your carrier's template requires.
- 6.
MGA reviews and approves
Your officers approve before anything goes to the carrier; schedules also go to your independent CPA.
Software
QuickBooks Online, Microsoft Excel, Xero
Pricing
Quoted per engagement, based on the programs, carriers and fiduciary accounts involved.
Finbryn is a brand of Northlane Solutions Inc., a Delaware corporation.
Reviewed October 2026